Select Energy Services (NYSE:WTTR) was downgraded by equities researchers at TheStreet from a “c-” rating to a “d+” rating in a research note issued to investors on Tuesday.
Several other research analysts also recently weighed in on the company. ValuEngine downgraded Select Energy Services from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Credit Suisse Group dropped their price target on Select Energy Services from $21.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, August 13th. B. Riley set a $22.00 price target on Select Energy Services and gave the stock a “buy” rating in a research note on Monday, August 13th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Select Energy Services in a report on Thursday, August 16th. Finally, Zacks Investment Research cut Select Energy Services from a “strong-buy” rating to a “hold” rating in a report on Saturday, June 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. Select Energy Services has an average rating of “Buy” and an average price target of $18.82.
WTTR stock opened at $12.02 on Tuesday. Select Energy Services has a 1-year low of $11.50 and a 1-year high of $21.96. The company has a quick ratio of 2.16, a current ratio of 2.40 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 15.03 and a beta of 2.06.
Select Energy Services (NYSE:WTTR) last posted its quarterly earnings results on Thursday, August 9th. The company reported $0.24 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. Select Energy Services had a return on equity of 3.53% and a net margin of 1.58%. The business had revenue of $393.20 million during the quarter, compared to the consensus estimate of $403.45 million. During the same period in the prior year, the company posted ($0.16) EPS. The firm’s revenue for the quarter was up 192.6% compared to the same quarter last year. sell-side analysts expect that Select Energy Services will post 0.91 EPS for the current fiscal year.
In other news, CFO Nick L. Swyka acquired 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were acquired at an average cost of $13.64 per share, with a total value of $34,100.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 8.29% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp raised its holdings in Select Energy Services by 82.8% during the 2nd quarter. Northern Trust Corp now owns 543,725 shares of the company’s stock valued at $7,901,000 after buying an additional 246,313 shares during the period. Bank of New York Mellon Corp raised its holdings in Select Energy Services by 20.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,812,102 shares of the company’s stock valued at $55,390,000 after buying an additional 659,270 shares during the period. Energy Opportunities Capital Management LLC purchased a new stake in Select Energy Services during the 2nd quarter valued at $467,000. Millennium Management LLC raised its holdings in Select Energy Services by 95.4% during the 2nd quarter. Millennium Management LLC now owns 361,124 shares of the company’s stock valued at $5,247,000 after buying an additional 176,302 shares during the period. Finally, MetLife Investment Advisors LLC increased its stake in Select Energy Services by 57.0% in the second quarter. MetLife Investment Advisors LLC now owns 21,969 shares of the company’s stock worth $319,000 after purchasing an additional 7,972 shares during the period. 52.36% of the stock is currently owned by institutional investors and hedge funds.
About Select Energy Services
Select Energy Services, Inc, an oilfield services company, provides water management and chemical solutions to the unconventional oil and gas industry in the United States and Western Canada. The company operates through three segments: Water Solutions, Oilfield Chemicals, and Wellsite Services. The Water Solutions segment provides water-related services, including the sourcing of water; the transfer of the water to the wellsite through permanent pipeline infrastructure and temporary hose; the containment of fluids off-and on-location; measuring and monitoring of water; the filtering and treatment of fluids, well testing, and handling of flowback and produced formation water; and the transportation and recycling or disposal of drilling, completion, and production fluids.
Further Reading: Fundamental Analysis
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